Wunderlich Capital Managemnt acquired a new position in Ross Stores, Inc. (NASDAQ:ROST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,914 shares of the apparel retailer’s stock, valued at approximately $1,759,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in shares of Ross Stores by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 5,999,599 shares of the apparel retailer’s stock worth $481,468,000 after buying an additional 41,093 shares during the last quarter. Flossbach Von Storch AG raised its stake in Ross Stores by 10.7% during the 3rd quarter. Flossbach Von Storch AG now owns 5,533,170 shares of the apparel retailer’s stock worth $357,277,000 after acquiring an additional 532,900 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in Ross Stores by 63.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,456,503 shares of the apparel retailer’s stock worth $437,885,000 after acquiring an additional 2,117,771 shares during the period. Wells Fargo & Company MN raised its stake in Ross Stores by 39.2% during the 3rd quarter. Wells Fargo & Company MN now owns 3,658,907 shares of the apparel retailer’s stock worth $236,257,000 after acquiring an additional 1,029,990 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its stake in Ross Stores by 0.6% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 2,826,871 shares of the apparel retailer’s stock worth $226,856,000 after acquiring an additional 17,381 shares during the period. 89.57% of the stock is currently owned by institutional investors.
In related news, Chairman Michael Balmuth sold 59,777 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $76.53, for a total value of $4,574,733.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bernard G. Brautigan sold 8,587 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $76.80, for a total transaction of $659,481.60. Following the completion of the sale, the insider now owns 193,089 shares in the company, valued at approximately $14,829,235.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,364 shares of company stock worth $7,238,035. Company insiders own 2.30% of the company’s stock.
ROST has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Ross Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Nomura restated a “buy” rating and set a $90.00 target price (up previously from $80.00) on shares of Ross Stores in a research note on Wednesday, January 17th. SunTrust Banks restated a “buy” rating on shares of Ross Stores in a research note on Friday, February 2nd. Credit Suisse Group initiated coverage on shares of Ross Stores in a research note on Monday, March 12th. They set an “outperform” rating and a $88.00 target price on the stock. Finally, Bank of America set a $94.00 target price on shares of Ross Stores and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.86.
Shares of Ross Stores, Inc. (NASDAQ:ROST) opened at $77.04 on Tuesday. The stock has a market cap of $29,329.71, a P/E ratio of 21.70, a PEG ratio of 1.90 and a beta of 1.09. The company has a current ratio of 1.64, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. Ross Stores, Inc. has a 1 year low of $52.85 and a 1 year high of $85.66.
Ross Stores (NASDAQ:ROST) last released its quarterly earnings data on Tuesday, March 6th. The apparel retailer reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Ross Stores had a net margin of 9.64% and a return on equity of 44.53%. sell-side analysts expect that Ross Stores, Inc. will post 4.03 EPS for the current year.
Ross Stores announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the apparel retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 19th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, March 16th. This represents a $0.90 annualized dividend and a dividend yield of 1.17%. This is a boost from Ross Stores’s previous quarterly dividend of $0.16. Ross Stores’s dividend payout ratio (DPR) is presently 25.35%.
Ross Stores Company Profile
Ross Stores, Inc and its subsidiaries operate two brands of off-price retail apparel and home fashion stores-Ross Dress for Less (Ross) and dd’s DISCOUNTS. The Company is the off-price apparel and home fashion chain in the United States, with 1,340 locations in 36 states, the District of Columbia and Guam, as of January 28, 2017.
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